Bulletin

Increased lending as economy grows

Machinery

Santander has hailed a 25% increase in Humber lending as evidence of the region's growing economic clout. Santander launched a £50m fund for the region's small and medium-sized manufacturers in June, backing an expected surge in industry after Siemens' decision to set up a world-leading wind turbine plant in Hull. Jonathan Thompson, Santander's Regional Director for South Yorkshire & the Humber, believes the move has paid off and said the bank was now supporting firms with bold ambitions. He said: 'Santander is well-placed to support the international growth of the region. Santander has a number of unique initiatives to support the trading and ambitions of internationally minded businesses. Our unswerving commitment to the manufacturing sector remains.' The bank lent £25m to regional companies last year and aims to further increase that amount, though £40m of its manufacturing loan fund remains available. Thompson said more money could be made available if there was sufficient call for it. 'We will increase this if demand dictates and so we remain very keen to hear from local manufacturers looking for funding support,' he said.

 

Note: News bulletin content has been provided by a third-party and is not the opinion of Santander.


Other Articles

The new Apprenticeship Levy could help transport and logistics companies solve their recruitment problems and equip their workforces with…

Cornwall is a land steeped in legend but this salty business success story is no myth.

Santander Incubator social enterprise, Liverpool Girl Geeks, has secured £20k in Rosa funding to help them grow their programmes and…

Santander Incubator social enterprise, Liverpool Girl Geeks, has secured £20k in Rosa funding to help them grow their programmes and…

Travelstar European Ltd, one of the West Midlands’ leading coach hire companies, has moved to larger premises in Portland Street, Walsall,…

The UK’s aerospace industry is the focus of our second quarterly bulletin in partnership with EEF, the manufacturer’s organisation. We take…

Where Next?